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Daily Market Comments - August 2007

8/31 - Stock Market Comments

The futures are indicating continued upside. A test of the 50 day moving averages is very viable today. Continue to stay long.

8/30 - Stock Market Comments

All the market indexes formed Bullish Harami's on Wednesday. The support areas/moving averages that had been violated the previous day saw prices come right back up through them. This should diminish the prospect of rampant selling taking over the market trend. Currently the futures look weaker this morning, not unexpected after the big move on Wednesday. The 50 day moving averages should still be the anticipated targets. Stochastics have not yet reached oversold conditions. The uptrend should be in progress but it may be a very slow progress. 

8/29 - Stock Market Comments

The hard selling going into the close on Tuesday exhibited panic selling. No recommendations will be made this morning until this market settles down a little bit. Be patient for a day or so. Any trades placed today should be watched diligently. In short, this is a time to sit and watch until signals illustrate what investor sentiment is trying to do.

8/28 - Stock Market Comments

The NASDAQ, the S&P 500, and the Russell 2000 all formed a Bearish Haramis yesterday at their first trend line resistance levels. Anticipate more consolidation today with the Pullbacks testing, the 20 day moving averages, and the T-lines. The Stochastics are not in the overbought condition yet, so anticipate this is just more consolidation.

8/27 - Stock Market Comments

Friday could have easily been a lackluster day, a Friday in late summer. The continued strength of the markets was still expected but not necessarily in that magnitude on a Friday. Although the futures showed some weakness this morning, nothing yet has changed. The 50 day moving average can be considered as being a likely target.    

8/24 - Stock Market Comments

The markets consolidated Thursday, which was not unexpected after a strong move in the markets over the past few days. Today is a Friday at the end of the summer. There may not be a whole lot of activity today. The Morning Star signal in the Dow of a few days ago is still the predominant signal. Anticipate a test of the 50 day moving average in the next few days. Continue to hold long positions until a severe sell signal appears.

8/23 - Stock Market Comments

The Dow had the opportunity of stalling at the 20 day moving average, but the strength in the markets on Wednesday indicated the 20 moving average was not going to act as resistance. The NASDAQ gapped open at the 20 moving average and closed higher. This should imply the 50 moving average as being the next target. Continue to stay long.

8/22 - Stock Market Comments

This morning the futures are showing more strength in the markets with the speculation that the feds are going to cut the interest rates soon. At least that is the excuse for the current strength. The Morning Star signal in the Dow at the 200 moving average is still the predominant signal. Continue to hold the longs with the 50 day moving averages being the next viable targets.

8/21 - Stock Market Comments

The past few weeks have shown sloppy trading in the markets, not unusual for an August time frame. However, the Dow has followed obvious patterns off the moving averages. The Morning Star signal appeared at the 200 day moving average over the past couple of days. The next logical target is a move back up to the 50 day moving average. That should provide a few days at least of positive trading.

8/2 - Stock Market Commen


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